Friday, 2 September 2011

UK Gas Prices Rocketing... Implications

UK natural gas prices are very strong this month, with 1-month forward up 16.3%. The system continues to remain tight due to volatility in Norwegian flows with the ongoing maintenance season as well as weak inflows from LNG terminals. Moreover, maintenance at Qatar LNG and the North Sea also help the prices.

Qatargas are taking their 3 largest LNG trains down for 2 weeks each between September and mid November. Will disrupt UK LNG supplies, which are nearly all uncontracted from Qatar, at the same time as Statoil was putting the Troll field (31BCM per annum) into maintenance through September (3 to 10 days).

No comments:

Post a Comment